Latvia’s financed loan volume increased by 72 million euros in Q1

In Q1 2017, loans worth more than EUR 94 million were issued through Latvian loan platforms, according to data compiled by Latvian Association of Alternative Financial Services.

Compared with Q1 2016, when the volume of financed loans was EUR 22 million, the volume of loans that went through platform in the same period of 2017 had increased by EUR 72 million. Compared with Q4 2016, the volume of loans financed through platforms has increased 11.5%.

«Over the course of two years, mutual loan platforms from Latvia have become important financial technology companies that successfully compete with companies in Europe. Indicative data shows that Latvia has become a leader in continental Europe when it comes to financed loan volumes in Q1. This is why it is important that regulations currently being worked on by Finance Ministry allow companies to continue developing successfully, and, at the same time, help balance protection of investors,» says the head of Latvian Association of Alternative Financial Services Gints Aboltins.

All kinds of loans are financed through Latvian platforms – for small and medium-sized companies and for private persons.

Latvian Association of Alternative Financial Services unites companies outside the banking sector that offer financial services to residents in Latvia. Among members of the association include: Mintos, TWINO, Viventor and Bulkestate.